Fidelity’s McColgan resigns

Ellyn A. McColgan, president of Fidelity Investments Distribution and Operations, has resigned.

Ellyn A. McColgan, president of Fidelity Investments Distribution and Operations, has resigned to pursue opportunities outside of the company, Fidelity Investments of Boston said in a statement.
The departure came as a surprise to industry watchers who viewed Ms. McColgan as a potential successor to Edward C. Johnson III, chairman and chief executive of FMR Corp. which runs Fidelity Investments.
Her departure, however, comes just a few weeks after Rodger A. Lawson, a one time Fidelity executive, was tapped to become president of FMR.
Ms. McColgan was to report to Mr. Lawson.
Ms. McColgan joined Fidelity in 1990 and has held senior management positions within the company’s 401(k) client services division, the 403(b) business for not-for-profit institutions, the intermediary business and Fidelity Brokerage Co.
“Ellyn McColgan made many positive contributions to the firm during her tenure here, and I wish her the best in the next phase of her career,” Mr. Johnson, said in the statement.
Mr. Lawson will assume immediate day-to-day control over distribution, until Ms. McColgan’s replacement is named, according to the statement.
“Rodger and I will work jointly on operational matters for an interim period, during which we will fine-tune the organizational structure in order to enhance and grow the business,” Mr. Johnson said.